THE INVESTMENT APPROACH OF CALVIN TAN

TSH RESOURCES & JAYA TIASA & THPLANT: ALL RECORDED IMPROVING RESULTS: SELL DOWN PRESENT US A WONDERFUL OPPORTUNITY TO BUY ON WEAKNESS, Calvin Tan

calvintaneng
Publish date: Thu, 25 Nov 2021, 08:36 PM
calvintaneng
0 1,799
Hi Guys,

I have An Investment Approach I which I would like to all.

Dear Investors,

Yes, this is addressed to Serious Investors who can buy and hold till June 2022

1) TSH RESOURCES

See its results from last 3 Qtrs

SUMMARY OF KEY FINANCIAL INFORMATION
31 Mar 2021

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31 Mar 2021
31 Mar 2020
31 Mar 2021
31 Mar 2020
$$'000
$$'000
$$'000
$$'000
1 Revenue
198,717
209,144
198,717
209,144
2 Profit/(loss) before tax
21,023
6,200
21,023
6,200
3 Profit/(loss) for the period
26,448
7,952
26,448
7,952
4 Profit/(loss) attributable to ordinary equity holders of the parent
20,783
2,254
20,783
2,254
5 Basic earnings/(loss) per share (Subunit)
1.51
0.16
1.51
0.16
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
1.0644
1.053

 

Above is January to 31st March 2021 results of TSH

Earning 1.51 sen profit

 

SUMMARY OF KEY FINANCIAL INFORMATION
30 Jun 2021

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Jun 2021
30 Jun 2020
30 Jun 2021
30 Jun 2020
$$'000
$$'000
$$'000
$$'000
1 Revenue
307,414
210,566
551,495
467,954
2 Profit/(loss) before tax
64,713
28,054
103,693
49,447
3 Profit/(loss) for the period
48,199
21,294
74,648
29,246
4 Profit/(loss) attributable to ordinary equity holders of the parent
39,715
19,818
60,499
22,072
5 Basic earnings/(loss) per share (Subunit)
2.88
1.44
4.38
1.60
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
1.0820
1.0531

Above is April 1st to June 30th 2021 result

Profit has increased from 1.51 sen to 2.88 sen or up 90%

 

SUMMARY OF KEY FINANCIAL INFORMATION
30 Sep 2021

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Sep 2021
30 Sep 2020
30 Sep 2021
30 Sep 2020
$$'000
$$'000
$$'000
$$'000
1 Revenue
309,074
216,960
860,569
684,914
2 Profit/(loss) before tax
65,689
32,392
169,381
81,839
3 Profit/(loss) for the period
53,775
27,038
128,422
56,285
4 Profit/(loss) attributable to ordinary equity holders of the parent
45,078
24,068
105,576
46,140
5 Basic earnings/(loss) per share (Subunit)
3.27
1.74
7.65
3.34
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
1.1394
1.0531
 

Above is TSH July 1st to Sept 30-, 2021 result

Profit has improved from 2.88 sen to 3.27 sen ( Up 11.9%)

 

Next will see TSH Result from Oct 1st to December 31 2021 to be announced in February 2022

As of now from Oct 1 st to November 25 today CPO prices are over Rm5,300 per ton (Average of July to Sept was Rm4,417)

Up almost 20%

So if prices maintan then EARNINGS FROM CPO PRICE RISE WILL REFLECT EXTRA 20% PROFITS

Then May 2022 Result TSH will even Register A Gain from Assets Disposal. 

The Quarterly Reports Ahead will Grow from Strength To Strengh.

So the sell down presents us an opportunity to buy on weakness as Boss bought tons of them & holding tightly

See

 

2) JAYA TIASA

 

SUMMARY OF KEY FINANCIAL INFORMATION
31 Mar 2021

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31 Mar 2021
31 Mar 2020
31 Mar 2021
31 Mar 2020
$$'000
$$'000
$$'000
$$'000
1 Revenue
151,924
144,589
524,505
564,020
2 Profit/(loss) before tax
-23,446
-45,292
32,128
-22,186
3 Profit/(loss) for the period
-26,949
-45,664
12,581
-36,879
4 Profit/(loss) attributable to ordinary equity holders of the parent
-26,875
-45,920
12,602
-37,420
5 Basic earnings/(loss) per share (Subunit)
-2.78
-4.74
1.30
-3.87
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
1.1600
1.1500

Above is Jaya Tiasa result from Jan to March 31 2021

It reported a loss of -2.78 sen

 

 

SUMMARY OF KEY FINANCIAL INFORMATION
30 Jun 2021

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Jun 2021
30 Jun 2020
30 Jun 2021
30 Jun 2020
$$'000
$$'000
$$'000
$$'000
1 Revenue
198,900
137,863
723,405
701,883
2 Profit/(loss) before tax
44,948
-107,386
77,076
-129,572
3 Profit/(loss) for the period
18,748
-35,071
31,329
71,950
4 Profit/(loss) attributable to ordinary equity holders of the parent
18,797
-34,672
31,399
-72,092
5 Basic earnings/(loss) per share (Subunit)
1.94
-3.58
3.24
-7.45
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
1.1800
1.1500
 

Above is Jaya Tiasa result from April to June 30 2021

It showed a profit turnaround to Plus 1.94 sen

 

SUMMARY OF KEY FINANCIAL INFORMATION
30 Sep 2021

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Sep 2021
30 Sep 2020
30 Sep 2021
30 Sep 2020
$$'000
$$'000
$$'000
$$'000
1 Revenue
145,997
221,095
145,997
221,095
2 Profit/(loss) before tax
37,123
46,996
37,123
46,996
3 Profit/(loss) for the period
24,531
34,941
24,531
34,941
4 Profit/(loss) attributable to ordinary equity holders of the parent
24,570
34,844
24,570
34,844
5 Basic earnings/(loss) per share (Subunit)
2.54
3.60
2.54
3.60
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
1.2000
1.1800
 

Above is the latest result from July to September 2021 when Cpo was at Rm4,417 a ton

It has improved from 1.94 sen to 2.54 sen  (Up 30% Quarter to Quarter)

February 2022 should report Oct 1 to December 31 2021 results when Cpo is currently traded at Rm5,300 or Up 20% from June to Sept Qtr.

This 20% increase in prices of CPO plus better harvest of FFB should see Jaya Tiasa Result Improve even further

What is the current Forward P/E of Jtiasa

At 2.54 sen Annualised 2.54 x 4

= 10.16

Today Jtiasa closed at 67.5 sen

To get P/E divides 67.5 by 10.16

= 6.64 P/E

That will still get better as Jtiasa will see Cpo at Record high of Rm5,300 for next Qtr report when price has gone up further by 20%

So Jaya Tiasa is a strong turnaround stock we can enter on weakness

 

 

3) THPLANT

SUMMARY OF KEY FINANCIAL INFORMATION
31 Mar 2021

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31 Mar 2021
31 Mar 2020
31 Mar 2021
31 Mar 2020
$$'000
$$'000
$$'000
$$'000
1 Revenue
131,243
115,551
131,243
115,551
2 Profit/(loss) before tax
25,377
-14,488
25,377
14,488
3 Profit/(loss) for the period
19,581
-12,948
19,581
-12,948
4 Profit/(loss) attributable to ordinary equity holders of the parent
14,966
-11,531
14,966
-11,531
5 Basic earnings/(loss) per share (Subunit)
1.69
-1.30
1.69
-1.30
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
0.6700
0.6600

Above is Thplant Jan to March 21 result

It shows a profit of 1.69 sen

 

SUMMARY OF KEY FINANCIAL INFORMATION
30 Jun 2021

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Jun 2021
30 Jun 2020
30 Jun 2021
30 Jun 2020
$$'000
$$'000
$$'000
$$'000
1 Revenue
176,148
127,570
307,391
243,121
2 Profit/(loss) before tax
41,562
25,431
66,939
10,943
3 Profit/(loss) for the period
32,584
13,349
52,165
401
4 Profit/(loss) attributable to ordinary equity holders of the parent
26,567
8,157
41,533
-3,374
5 Basic earnings/(loss) per share (Subunit)
3.01
0.92
4.70
-0.38
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
0.7000
0.6600
 

Above shows that April to June 21 qtr price has gone up from 1.69 to 3.01 sen or up 78%

 

SUMMARY OF KEY FINANCIAL INFORMATION
30 Sep 2021

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Sep 2021
30 Sep 2020
30 Sep 2021
30 Sep 2020
$$'000
$$'000
$$'000
$$'000
1 Revenue
205,866
167,430
513,257
410,551
2 Profit/(loss) before tax
59,695
37,776
126,634
48,719
3 Profit/(loss) for the period
39,763
23,864
91,928
24,265
4 Profit/(loss) attributable to ordinary equity holders of the parent
26,805
15,772
68,338
12,398
5 Basic earnings/(loss) per share (Subunit)
3.03
1.78
7.73
1.40
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00
   
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
0.7300
0.6600

 

Latest result from July to Sept 21 shows slight improvement from 3.01 to 3.03 sen up a tick only

But look again. Its Nav has improved from 70 sen to 73 sen or up 4.2% (Still an increase)

Now Thplant has seen better harvest of FFB Plus Now Cpo is over Rm5,300 (Up another 20% from Rm4,417)

SO CAN WE EXPECT THPLANT RESULTS TO FURTHER IMPROVE BASING ON REVEALED FACTS & FIGURES?

Now look at Forward P/E

This qtr is 3.03 sen

Annualised 3.03 x 4 = 12.12 sen

Today Thplant has retraced to 66.5 sen

To get P/E divides 66.5 sen by 12.12

= 5.48 forward P/E

In a Rising Cpo to World Record Prices of Over Rm5,300 a ton THPLANT looks very undemanding

 

Note further:

This week many KLSE Companies' results are out. Most have reported negative qtrs due to MCO lock down qtr

Those that still report profits have seen performance dropped. Only a very few see improvements

Even so their P/E mostly in double digits

ASK YOURSELF

WHERE TO FIND RECESSION PROOF COOKING OIL RELATED PALM OIL CONSUMER COMPANIES IN AN INFLATIONARY TIME SELLING AT SINGLE DIGIT P/E PLUS SOME LIKE TAANN, BPLANT AND INNOPLANT GIVING OUT GENEROUS DIVIDENDS?

IF NOT PALM OIL WHAT ELSE?

 

WARM REGARDS

Calvin Tan

 

Please buy or sell after doing your own due diligence or consult your remisier/fund manager

 

 

T7 GLOBAL & DESTINI: STRONG BUY CALLS FOR THESE TWO OGSE LAGGARDS, Calvin  Tan Research - THE INVESTMENT APPROACH OF CALVIN TAN | I3investor

John Neff of Windsor Fund

John B. NeffCFA, (September 19, 1931 – June 4, 2019) was an American investor, mutual fund manager, and philanthropist. He was notable for his contrarian and value investing styles as well as for heading Vanguard's Windsor Fund.[1]

Windsor became the highest returning, and subsequently largest mutual fund in existence during Neff's management, eventually closing to new investors for a period in the 1980s. Neff retired from Vanguard in 1995. During Neff's thirty-one-year tenure at Windsor (1964 to 1995), the fund returned 13.7% annually versus 10.6% for the S&P 500.[2]

 

Discussions
1 person likes this. Showing 24 of 24 comments

calvintaneng

At 66.5 sen THPLANT Has a Forward P/E of 5.48 or yield 18.24% a year


Or it will double your money in 5.48 years

Putting money in Bank FD?

The yield is 1.75%

or P/E 57.14
It will take 57.14 years to double your money which is no no

Garden bread will be increasing in prices by Dec 1 2021

Your Bank FD at 1.75% could hardly cover Bread price rise

1 liter Palm oil now retails for Rm6.70 (Up by over 100%)

So better buy Palm oil shares to protect from the ravages of high inflation

https://mydinexpress.my/emporium/product/saji-cooking-oil-1kg/

2021-11-25 20:47

ahbah

Palm oil stocks ... all good buy.

2021-11-25 21:07

sleepingzzz

How about Harnlen? Also a palm oil stock but yet to move and there is the possibility of privatization..

2021-11-25 21:16

joerakmo

calvin; stop flogging these tired horses,time to switch horses whose numbers are better.

2021-11-25 21:22

calvintaneng

Post removed.Why?

2021-11-25 21:34

joerakmo

Upstream??? arent they all upstream,trees,ffb,cpo,pk....

2021-11-25 22:07

ahbah

I like your Bplant which got good earning, div. n high nta.

2021-11-25 22:08

gladiator

Choose the one that give best dividend INNOPRISE and TAANN

2021-11-25 22:19

calvintaneng

Not all are pure upstream

FGV got Palm Oil, Rubber & Sugar

Cbip got palm oil & setting up palm oil mill

KM Loong more milling than upstream

MKH is Kajang property and palm oil

TDM is palm oil & hospital

WTK is palm oil, lumber & loytape

AZRB got toll, palm oil, teaching hospital

So on and so forth

THAT IS WHY WE MUST GO FOR PURE UPSTREAM IF POSSIBLE PLUS THOSE THAT OWN THE LARGEST PALM OIL ESTATES IN PURE UPSTREAM FFB

2021-11-25 22:25

Johnzhang

pure upstream CPO producers refer to those who produce and sell FFB and/or CPO with little or no involvement in refining/conversion (downstream) business.
Pure up stream producers are : BPlant, THplant, Taann, SWKpltn, MHC, Cepat, HSPltn, KMloong .
Upstream producers whose plantation predominantly in Malaysia are better choice.

2021-11-26 06:37

ahbah

I choose your no. 1 BPlant.

2021-11-26 13:38

calvintaneng

Best time to buy on weakness as Palm oil share in Spore still holding firm unlike in Malaysia where there is cheap sale due to bad sentiment

2021-11-26 15:13

calvintaneng

After the dust is settled
Palm oil bull will resume uptrend

2021-11-26 15:14

ahbah

Buy when others are panic selling ?

That is when we can get good n chip shares ?

2021-11-26 15:18

calvintaneng

EXACTLY!

2021-11-26 15:34

calvintaneng

Posted by danny123 > Nov 26, 2021 3:29 PM | Report Abuse

Why promoter are asking people buy?

Because they are selling.






calvintaneng
43573 posts
Posted by calvintaneng > Nov 26, 2021 3:34 PM | Report Abuse X

No selling

Like this

We bought Bplant at around 56 sen

After several dividends our cost have been brought down to only 50 sen

So now at 69 sen we are still gaining more than 30% profit

SO WE ARE VERY HAPPY TO HOLD

BPLANT GOING TO GIVE ANOTHER 1.75 sen dividend soon

This is better than Bank FD

Feb 2022 Bplant will EARN EVEN MORE MONEY AS CPO HAS GONE UP BY ANOTHER 20% FROM RM4,417 to Over Rm5300

Out of profit Bplant will give 60% DIVIDEND AGAIN

SO?

SO WE HOLD

2021-11-26 15:35

Mat Cendana

Today is an even better day to buy/add plantation counters. As long as CPO prices remain at around this elevated level, an investors simply must have a counter or two in his portfolio.

2021-11-26 17:34

calvintaneng

SOP latest to report fantastic earnings


calvintaneng Excellent results

This qtr earns 21.95 sen

Annualised 21.95 x 4 = 87.8 sen

At Rm3.53 the yield is 24.87% a year

This is similar to Berkshire Hathaway 25% performance which is excellent

It has a forward P/E of only 4.02

So it will double your money in just 4.02 years


Fantastic result indeed

The Cash received is reinvested in SOP property's condo project in Kuching plus other profitable investment

Over all it is a company of distinction after TAANN

Well done !
26/11/2021 9:20 PM

2021-11-26 21:29

Johnzhang

Ya, fantastic earning, but disgusting dividend! Management got to act more reasonably !

2021-11-27 07:31

calvintaneng

Yes, John
Calvin already spoken to SOP management earlier
They have got Vision & Plans ahead

I cannot disclose here. Neither will they

So just be patient.

Some people like Warren Buffet does not believe in dividend but in Company's entire business enterprise

https://www.investopedia.com/ask/answers/021615/why-doesnt-berkshire-hathaway-pay-dividend.asp

2021-11-27 07:49

gladiator

Very good profit Taann and Sop. Sop should declare higher dividend. With 2 days left in November quarters reporting I notice Plantation and Steel report very good profit but depressed share price. Profit all time high PE all time low.

2021-11-27 11:04

stockraider

Just buy taann, this the best raider palm oil stock loh!

Why leh ?

Good management
Big hectarage
Good earnings
Pays Good Dividend
at Good value prices
Young plantation & still growing towards peak maturity mah!

2021-11-27 12:21

ahbah

Onli palm oil stocks can take care n protect our hard earn moni.

Sapu palm oil stocks !!!

2021-11-27 13:26

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